ISLAMABAD
International Monitory Fund (IMF) has reduced the estimate of loans required by Pakistan.
According to sources, the IMF has estimated Pakistan’s external debt demand during the current fiscal year and the next fiscal year to be $124 billion, which is $8 billion less than the previous estimate.
2023-24 and the next financial year 2024-25, these estimates will be discussed further in the talks in February or March next year.
It should be remembered that four months ago, the IMF estimated this at 131 billion dollars, while in this way, the external public debt will reach 103 billion dollars in the total external debt, which is 5 billion dollars less than the previous estimate.
The main reason for the decline in Pakistan’s demand for external debt is a reduction in the current account deficit, lower external debt repayments and debt restructuring by China.
Another reason for the decline in estimates is the State Bank’s purchase of dollars from the open market, which is reducing the demand for external loans.
